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Taxability og goodwill on induction of new partner

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(Querist)
26 December 2013 is goodwill created on induction of new partner...taxable in the hands of existing part ners ?
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@VaibhavJ

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@VaibhavJ (Expert)
26 December 2013 Hi

can you enumerate the same with example.

Generally withdrawals of goodwill at the time of induction of new partner is not taxable.

Thanks//VaibhavJ

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